Page 54 - Nexia SAB&T Trust Guide 2025

d. Vesting from another South African or foreign trust
i. There are questions on the return which are specifically targeted to
these arrangements.
e. Physical address of Beneficial Owner/s
i. There are new questions on the physical address of the beneficial
owner/s, which field is compulsory to complete on the trust’s tax return.
f. Compulsory Supporting documents
i. A wide range of supporting documentation is required to be submitted
with the tax return for the trust, including the trust deed, AFS and trust
resolutions.
Third party returns [IT3(t) reporting]
Trusts are required to submit 3rd Party returns, confirming the details as listed
in points i to vii below. In order to activate the IT3(t), a SARS representative/
public officer for the trust must first be appointed at SARS. The information to be
provided on this return includes:
i. Amounts declared as a distribution/ vested in beneficiaries during a given
tax year.
ii. These returns cover not only income but also capital gains and
repayments of contributions.
iii. The submission of the IT3(t) form will need to be completed before the
annual trust income tax return is submitted (the ITR12T).
iv. The IT3(t) is due on the 30th of September of each year in which the
trust’s tax year ends – in other words, the trustees will be required
to supply information about all distributions made from the trust to
beneficiaries or other persons (in respect of any amount vested in a
beneficiary including income (net of expenditure), capital gains and
capital amounts distributed, by 30 September during the preceding tax
year of assessment, which ended at the end of February of the same year.
v. In addition to the information about distributions, demographic
information about the trust and beneficiaries will also be required to be
submitted.
vi. Summary of Information required to be provided in the IT3(t):
a. Demographic information of the reporting trust

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